Series 24: 3.1.5.2. Objecting Beneficial Owner (OBO) Vs. Non-Objecting Beneficial Owner (NOBO)

3.1.5.2.  Objecting Beneficial Owner (OBO) vs. Non-Objecting Beneficial Owner (NOBO)

As we shall soon see, stockholders who hold their shares in street name are beneficial owners of the securities. This means that while the shares are held legally in the broker-dealer’s name, the stockholders hold most of the benefits of stock ownership. Shareholders who are beneficial owners can be either objecting beneficial owners (OBOs) or non-objecting beneficial owners (NOBOs). OBOs do not want the issuer to know who they are;